Friday, April 12, 2013

Precious metals market

Gold continues to get pummeled and the selling has really intensified today, Silver as well.  However I will post my thoughts over the weekend, unfortunately $gold and $silver commodity charts from do no update until a couple hrs after the close.  

Also gold stocks continue to get killed, have you guys learned yet not to try and catch falling knives!!  Perhaps we are finally seeing capitulation here, however honestly for me to be interested in taking a position, I would like to see some kind of big washout intra day that recovers and ends with a big high volume hammer candlestick.  Or at least a good reversal on the daily chart that takes out the 9 EMA and follows though, even though, the much lower risk trade is to let the bottom pass you by in your rear view mirror and you establish a swing trade on the next higher low

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